Forex Brokers in Cyprus | Cyprus Regulated Brokers

Forex Brokers in Cyprus
Forex trading is a very big thing in Cyprus. Compared to other countries that allow forex trading, Cyprus offers more possibilities for traders because of the less stringent requirements, giving them more freedom in trading activities. Cyprus is also very conducive to brokers that are just starting out because the regulatory guidelines are simple and easy to abide by.

There are currently more than 70 forex brokers that are regulated by CySEC, the local forex regulatory body in Cyprus. Since CySEC is a top-tier regulatory body, these brokers included in their authorized list are considered to be more highly recommended to trade with, and come with a lower risk than unregulated brokers.

Best Cyprus Forex Brokers 2021

Broker
Rating
Regulated
Min. Deposit
Demo
Max. Leverage
1.
Admiral Markets

FCA, CySEC, ASIC

Min $100 Deposit

1:500

Review » Visit » Visit
Terms & conditions apply
Risk warning: Trading Forex (foreign exchange) or CFDs (contracts for difference) on margin carries a high level of risk and may not be suitable for all investors. There is a possibility that you may sustain a loss equal to or greater than your entire investment. Therefore, you should not invest or risk money that you cannot afford to lose. Before using Admiral Markets UK Ltd, Admiral Markets Cyprus Ltd, Admiral Markets AS Jordan Ltd or Admiral Markets Pty Ltd services, please acknowledge all of the risks associated with trading.
2.
Deriv

VFSC, FSC, IBFC

Min $5 Deposit

1 000:1

Review » Visit » Visit
Terms & conditions apply
CFDs are considered complex derivatives and may not be suitable for retail clients. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. The products mentioned here may be affected by changes in currency exchange rates. If you invest in these products, you may lose some or all of your investment, and the value of your investment may fluctuate. You should never invest money that you cannot afford to lose and never trade with borrowed money.
3.
ActivTrades

FCA

Min $100 Deposit

50:1

Review » Visit » Visit
Terms & conditions apply
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
4.
Vantage FX

FCA, ASIC, CIMA, SIBL

Min $200 Deposit

500:1

Review » Visit » Visit
Terms & conditions apply
Trading Forex and CFDs involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.
5.
XM Broker

ASIC, IFSC, DFSA, CySEC

Min $5 Deposit

500:1

Review » Visit » Visit
Terms & conditions apply
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.28% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
6.
Blackbull Markets

ASIC, VFSC

Min $100 Deposit

500:1

Review » Visit » Visit
Terms & conditions apply
Risk Warning: Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money you cannot afford to lose. You should make yourself aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any questions or concerns as to how a loss would affect your lifestyle.
7.
Fusion Markets

ASIC, VFSC

Min $100 Deposit

500:1

Review » Visit » Visit
Terms & conditions apply
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
8.
Eightcap Review

ASIC, VFSC

Min $100 Deposit

500:1

Review » Visit » Visit
Terms & conditions apply
Margin trading involves a high level of risk, and may not be suitable for all investors. You should carefully consider your objectives, financial situation, needs and level of experience before entering into any margined transactions with Eightcap, and seek independent advice if necessary. Forex and CFDs are highly leveraged products which mean both gains and losses are magnified. You should only trade in these products if you fully understand the risks involved and can afford losses without adversely affecting your lifestyle (including the risk of losing substantially more than your initial investment).
9.
Libertex

CySec

Min $100 Deposit

30:1

Review » Visit » Visit
Terms & conditions apply
Trading leveraged products such as CFDs involves substantial risk of loss and may not be suitable for all investors. 83% of retail investor accounts lose money when trading CFDs with this provider. Trading such products is risky and you may lose all of your invested capital.
10.
Capital.com

FCA, CySEC

Min $20 Deposit

30:1

Review » Visit » Visit
Terms & conditions apply
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Top 5 Cyprus Forex Brokers Reviewed

With the vast number of forex brokers in Cyprus, it can be confusing to determine which one to choose to invest with. To make your decision easier, we present to you the 5 best forex brokers in Cyprus today.

FXTM

FXTM Logo
Based in Limassol, Cyprus, FXTM is definitely regulated by CySEC. It is also governed by the regulations of the United Kingdom’s Financial Conduct Authority or FCA and other top-tier regulators. Some of the advantages that make FXTM better than most competitors are their competitive spreads, 6 accounts types and broad range of tradable instruments.

FXTM also has feature-rich but easy to use trading platforms. They do not have a proprietary platform but their MT4 and MT5 come with comprehensive tools and advanced features that even the most experienced trader would appreciate. Their minimum deposit is only $50 and they have low trading and forex fees, but they do charge minimal withdrawal and inactivity fees.

FXTM Logo

Min $10 Deposit

Regulated By: FSCA, FSC, CySEC, FCA

Foundation Year: 2011

Headquarters: Cyprus


Terms & conditions apply
77% of retail CFD accounts lose money

eToro

eToro Logo
Many would agree that eToro is one of the top forex brokers in Cyprus, as you can easily see from the 20 million traders that use this broker to facilitate their trades. Other than CySEC, eToro is also regulated by other tier-1 regulatory bodies FCA of the UK, ASIC of Australia, and the MiFID of the EU.

As the pioneer of social trading, eToro has one of the best social trading platforms today. They also have very competitive fees and their minimum deposit is only $50.

eToro Logo

Min $200 Deposit

Regulated By: FCA, ASIC, CySEC

Foundation Year: 2006

Headquarters: London, ‎United Kningdom


Terms & conditions apply
67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

AvaTrade

Avatrade Logo
More than 300,000 traders use AvaTrade as their broker because it has proven to be one of the most trustworthy and reliable brokers for forex trading. AvaTrade has a vast array of trading platforms to choose from, including their own AvaTradeGo and AvaOptions. They also have a copy trading platform called DupliTrade.

This broker has a long list of regulators including top-tier agencies CySEC, ASIC of Australia, FCA of the United Kingdom, FSCA of South Africa and JFSA of Japan. Their minimum deposit requirement is $100 and they have fixed spreads that are among the best in the industry. AvaTrade also offers a 40% sign up bonus for new members.

Avatrade Logo

Min $100 Deposit

Regulated By: ASIC, CBI, BVI, FSCA, IIROC, FFAJ, JFSA, ADGM FRSA

Foundation Year: 2006

Headquarters: Dublin, Ireland


Terms & conditions apply
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This content is intended for information and educational purposes only and should not be considered investment advice or investment recommendation.

XTB

XTB Logo
This is the first broker in our list that has no minimum deposit requirement. They offer 5 different account types that you can open, including an Islamic account. They offer variable spreads on foreign currencies that are very competitive. XTB allows scalping and hedging, and they offer negative balance protection as well.

XTB has their own trading platform called xStation 5, which is very easy to use and has excellent tools and features, as well as generates a clear fee report. Transferring funds is very easy with XTB as they accept bank transfers, credit card, PayPal and other online wallets. Aside from CySEC, XTB is regulated by 7 other regulators, including tier-1 FCA of the UK.

XTB Logo

Min Deposit: N/A

Regulated By: FCA, CySEC, CNMV, KNF, IFSC

Foundation Year: 2002

Headquarters: Poland


Terms & conditions apply
77 % of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Plus500

Plus500 Logo
If you are new to the world of forex trading and would like to maximize your chances of success, then Plus500 is the broker that you should sign up with. Their web-based trading platform has a very easy layout and simple features that are just perfect for a new trader. However, with the limited advanced features, it is not necessarily the best choice for veterans.

Plus500 is very low-risk because it has 4 tier-1 regulations – CySEC, FCA, ASIC and the Monetary Authority of Singapore or MAS. They have more than 70 forex pairs to trade and a demo account that you can use to try your trading skills without having to spend anything. The minimum deposit at Plus500 is $100 and their spread offering is right at the industry average.

Plus500 Logo

Min $100 Deposit

Regulated By: ASIC, FMA, FCSA FCA, CySEC, MAS, FSA

Foundation Year: 2008

Headquarters: Israel


Terms & conditions apply
72% of retail CFD accounts lose money.

Conclusion

You are very lucky if you are in Cyprus and wish to become a forex trader as there is no more favorable place to be. The forex brokers in Cyprus that are listed above will definitely be able to help you experience success as a forex broker so make sure you choose wisely.

FAQs about Forex Brokers in Cyprus

Is it legal to trade forex in Cyprus?

Forex trading in Cyprus is perfectly legal. In fact, not only is it legal but it is also a very active industry and there are dozens of brokers authorized to operate in the country.

Who is the forex regulatory body in Cyprus?

Forex trading in Cyprus is regulated by the Cyprus Securities and Exchange Commission or CySEC. It was established in 2001 to supervise the Cyprus Stock Exchange operation, as well as its brokers, among a few other financial entities.

Does the EU control forex trading in Cyprus?

Cyprus officially became an EU member in 2004. This means that the EU’s MiFID or Markets in Financial Instrument Directive does have jurisdiction over forex brokers in Cyprus. CySEC does abide by all the guidelines of MiFID.

Are there any unregulated forex brokers in Cyprus?

As of the moment, there are a handful of unregulated brokers operating in the island but local authorities have recently intensified their efforts in curbing the illegal practice of operating without due regulation.

Are forex profits taxable in Cyprus?

Yes, forex traders need to file taxes once their profits reach the level that is taxable. You have to make sure to pay all your taxes annually in order to avoid sanctions.

About James Johnson
About James Johnson

Expert in Economics, Trading, Investments and Personal Finance. Graduated in 2001 in Business Economics and Management at Harvard University. After several years of working in the foreign exchange trading industry, I co-founded Forex Online Brokers in 2015 with the aim of distributing my personal knowledge and professional experiences in the field of trading and investments in general.